All Articles Tagged - NZDUSD

Forex Market Review (European Session) – Loonie falls sharply on GDP miss; pound boosted on Barnier; Eurozone readings mixed

Posted on October 31, 2017 at 3:26 pm GMT

The Canadian dollar lost ground versus its US counterpart as GDP figures unexpectedly reflected a contraction in the Canadian economy. Eurozone data on inflation, economic growth and unemployment out during today’s session gave a mixed picture. The pound moved higher after some comments by Michel Barnier, the EU’s chief Brexit negotiator, which suggested that Brexit talks are getting on the right path, while the dollar advanced following upbeat figures on consumer confidence. The dollar’s index against a basket of currencies [..]

Technical Analysis – NZDUSD looking bearish in the short- and medium-term

Posted on October 30, 2017 at 3:44 pm GMT

NZDUSD has declined considerably in recent weeks, falling to a five-and-a-half-month low of 0.6817 during Friday’s trading. The Tenkan-sen line being below the Kijun-sen line is a negative alignment pointing to bearish momentum in the short-term. Adding to this, both lines maintain a fairly steep negative slope. Should the pair continue declining, the area around Friday’s low of 0.6817 could act as support. Notice that the area around this level also encapsulates the May 11 seventeen-month low (which is only [..]

Forex Market Review (Asian Session) – US dollar off Friday’s best levels as market awaits key data and events week

Posted on October 30, 2017 at 8:22 am GMT

The US dollar faced some profit-taking against other majors, after receiving a boost the previous week on tax reform hopes in the US and strong third quarter growth while the euro was hit by the political uncertainty in Spain. Euro/dollar climbed above the 1.16 level to trade around 1.1615, as markets will be focusing on Catalonia and how the region is going to function during the week after the central government in Madrid has taken over control of the region [..]

Week Ahead – Fed and BoJ meet but all eyes on BoE; US jobs also in focus

Posted on October 27, 2017 at 3:28 pm GMT

Central bank meetings will dominate the next seven days as the Bank of England, the Bank of Japan and the US Federal Reserve all hold their policy meetings. It will be a big week for economic indicators as well, as the Eurozone releases preliminary GDP figures and the October jobs report is out in the United States. Australian, New Zealand and Canadian data eyed after aussie, kiwi and loonie take a battering Political concerns in Australia and New Zealand have [..]

Forex Market Review (European Session) – Dollar flexes its muscles on GDP beat; euro headwinds on Catalan independence

Posted on October 27, 2017 at 2:59 pm GMT

The dollar was standing broadly higher relative to most other major currencies as US quarterly GDP estimates beat expectations. However, the US currency gave up part of its gains later in the session as, according to a report by Bloomberg, US President Donald Trump is leaning towards Federal Reserve Governor Jerome Powell – a perceived dove – to lead the Federal Reserve after current Fed Chair Janet Yellen’s term expires next year. News of Catalonia declaring independence from Spain during [..]

Forex Market Review (Asian Session) – Dollar stands tall ahead of GDP; euro records 3-month low on “dovish tapering”

Posted on October 27, 2017 at 7:51 am GMT

The US currency stood higher on the day as the Asian session was nearing completion, though barring a development that makes US tax reform more likely, that was mostly due to other majors’ weakness rather than any dollar specific factors. Market participants are awaiting the advance estimate of US third quarter GDP growth which is due at 1230 GMT. The dollar’s index against a basket of currencies was trading 0.3% up on the day, near the day’s high and not [..]

Forex Market Review (European Session) – Euro slips as ECB halves QE but keeps it open ended; dollar firms on reports Yellen is out of Fed race

Posted on October 26, 2017 at 2:54 pm GMT

The euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 yen level amid reports that incumbent Fed chief Janet Yellen was out of the race to lead the central bank. The European Central Bank announced it is extending its asset purchase program (APP) for [..]

Technical analysis – NZDUSD maintains bearish bias; downtrend expected to resume

Posted on October 26, 2017 at 8:47 am GMT

NZDUSD maintains a bearish bias since declining steadily from the September 20 peak of 0.7434. Downside pressure in the market increased after the bearish crossover of the 20 and 50-period moving averages on the 4-hour chart. The recent sharp decline has shown signs of exhaustion, with RSI at oversold levels, as the market pauses just above 0.6860. This level will act as immediate support and a break below it would open the way towards 0.6817 (May 11 low) before proceeding [..]

Forex Market Review (Asian Session) – ECB in focus; dollar eases in need of fresh catalysts

Posted on October 26, 2017 at 7:44 am GMT

As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six major US trading partners, was 0.1% lower at 0737 GMT, falling for a third straight day and moving further below Monday’s three-week high of 94.02. [..]

Forex Market Review (European Session) – Pound rises on GDP, hike speculation; loonie declines on BoC inflation expectations

Posted on October 25, 2017 at 3:07 pm GMT

The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and retreating versus the euro, yen and of course sterling. At 1542 GMT, the dollar index, which gauges the greenback against the currencies of six major [..]

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